We’ve now got the full text of the “Memorandum of Understanding” that ended the war between the U.S. and Iran. Read the full text here. The BBC has a good summary here. And the WSJ has a useful annotated version here. The main points:
An end to the fighting, followed by an extendable 60-day negotiation period aiming for a more detailed pact that will include a compliance-monitoring mechanism.
Iran is banned from obtaining nuclear weapons but “will maintain the current status quo of its nuclear program,” it says.
The blockades of the Strait of Hormuz will be ended, allowing “passage of commercial vessels with no charge for 60 days.” After that period, the “future administration and maritime services” of the Strait will go to Iran and Oman—language which seems to leave open a backdoor for tolls.
Iran will receive $300 billion in an investment package coming mainly from international partners.
